a year ago

Limbic Raises $14 Million to Expand AI Mental Health Chatbot to US Healthcare Providers

  • Limbic, a London-based startup developing an AI mental health chatbot, has raised $14 million in Series A funding led by Khosla Ventures

  • The company's chatbot is used across 33% of the UK's NHS Talking Therapies services, covering 260,000 patients

  • Limbic is the first AI mental health chatbot in the world to achieve UKCA Class IIa medical device status, signifying its clinical effectiveness, safety, and risk management

  • Other investors include LGBTQIA+ investment syndicate Gaingels and Illusian, the family office of Ilkka Paananen, cofounder of game development company Supercell

  • Limbic's chatbot aims to address the gap between the high demand for mental health support and limited healthcare capacity

  • It serves as a support tool between therapy sessions, using assessment software to provide insights to clinicians for diagnosis

  • The company reports reclaiming over 50,000 hours of clinician time previously spent on assessment and referral

  • The chatbot has encouraged traditionally unengaged demographics to access help, with a 2023 survey showing a 179% rise in non-binary individuals accessing mental health support and a 29% increase for ethnic minority groups

  • Limbic prioritizes safety, ensuring clinical professionals are notified if the chatbot flags potential concerns

  • The company plans to use the new funding to expand into the US market.

      • ProblemHealthcare

      "There's a huge shortage of mental health therapists, leaving millions of people struggling with mental health issues without access to proper support. This gap is especially pronounced in the UK."

      Solution

      "Limbic has built an AI chatbot that acts as a mental health therapist, providing support and guidance to users. The chatbot can identify potential issues and refer users to human therapists when necessary. This helps to fill the gap in mental healthcare by providing accessible, personalized support."

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